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The States: At Least Michigan is Better Than Indiana

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Re: The States: At Least Michigan is Better Than Indiana

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">Ted Cruz has done so much for Texas, including massive cuts in taxes and regulations - which has brought Texas to the best jobs numbers in the history of the state. He watches carefully over your 2nd Amendment. O’Rourke would blow it all! Ted has long had my Strong Endorsement!</p>— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1052529703800721408?ref_src=twsrc%5Etfw">October 17, 2018</a></blockquote>
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I'm still trying to figure out where this massive tax cut is right now cause I never saw a dime.
 
Re: The States: At Least Michigan is Better Than Indiana

I saw a pretty big drop in my projected taxes next year.
 
Re: The States: At Least Michigan is Better Than Indiana

I honestly have zero idea how my taxes will be. Nor do I care to be honest.

I find it funny the GOP is so worried about Calgary Ted's fight. That tells me they think it is closer than recent polling is showing.
 
Re: The States: At Least Michigan is Better Than Indiana

Sure. I could care less about my taxes too. However, I do care that the economy is good and all the money is gone. Cause, the economy is going to go bad. And when it goes bad there will be nowhere to turn.

We're looking at another big, long, disastrous recession.

And when that happens everything will get worse. Everything.
 
ScoobyDoo said:
Sure. I could care less about my taxes too. However, I do care that the economy is good and all the money is gone. Cause, the economy is going to go bad. And when it goes bad there will be nowhere to turn.

We're looking at another big, long, disastrous recession.

And when that happens everything will get worse. Everything.
Click to expand...

See, this is why we elect Republicans. Then we can stockpile guns and ammo for when the big downturn hits.


Wait, what's that? If we elected a Democrat we could still have our guns and *NOT* need to use them for a GOP fueled purge? Well sh**.
 
Re: The States: At Least Michigan is Better Than Indiana

aparch said:
See, this is why we elect Republicans. Then we can stockpile guns and ammo for when the big downturn hits.


Wait, what's that? If we elected a Democrat we could still have our guns and *NOT* need to use them for a GOP fueled purge? Well sh**.
Click to expand...

Isn't saving for a rainy day, paying the bills, etc. a "conservative" construct.
 
Re: The States: At Least Michigan is Better Than Indiana

ScoobyDoo said:
Isn't saving for a rainy day, paying the bills, etc. a "conservative" construct.
Click to expand...

Modern day conservatism is about cutting revenue. It's a brilliant business model, I don't understand why businesses don't follow it. How little money can we bring in, while still spending on things that make our friends rich?
 
Re: The States: At Least Michigan is Better Than Indiana

ScoobyDoo said:
Sure. I could care less about my taxes too. However, I do care that the economy is good and all the money is gone. Cause, the economy is going to go bad. And when it goes bad there will be nowhere to turn.

We're looking at another big, long, disastrous recession.

And when that happens everything will get worse. Everything.
Click to expand...

Oh I know it is coming that is inevitable at this point. Every time the Fed even hints at trying to take measures to fix it Trump turns a brighter shade of orange...

I itemized last year so in theory I should be way better off this year. I also have a lower taxable income I believe because I quit my primary job. I shouldnt owe like I have the last two years I should be in line for a nice refund. That will go right into savings...
 
Re: The States: At Least Michigan is Better Than Indiana

unofan said:
Do you itemize? If not, I could see you getting a decent drop.
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Yeah. But it’s close. Next year my mortgage interest drop is probably just going to put me below the itemization limit. I have a 15-year 2.75%. So I have a pretty low mortgage deduction. My local property taxes are also quite low. If I lived five miles south in the same home, I’d be paying 50-100% more.
 
dxmnkd316 said:
Yeah. But it’s close. Next year my mortgage interest drop is probably just going to put me below the itemization limit. I have a 15-year 2.75%. So I have a pretty low mortgage deduction. My local property taxes are also quite low. If I lived five miles south in the same home, I’d be paying 50-100% more.
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So the standard deduction essentially doubled, but they dropped the personal exemptions, so it's not as much of a savings as you'd think (the standard deduction + personal exemption was about 10,000 combined in 2017, this year the standard deduction is 12,000). If you were borderline before, you'll probably be under the threshold to itemize this year.

I will most likely get the fun of taking standard deduction on the fed return and itemizing on my state return (they let us do that)
 
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Re: The States: At Least Michigan is Better Than Indiana

So assuming Iowa's turnout is ~40% of registered voters, roughly 10 percent of all ballots have already been cast. (2,000,000 registered voters, assume 800,000 vote, 88,000 have already been received by the county auditors).

Trend so far looks more like 2012 than 2016, with Dems having a 2:1 advantage thus far. That gap will close, and the GOP will win among election day voters, but you can't say there's an enthusiasm gap in favor of the GOP at the moment.
 
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Re: The States: At Least Michigan is Better Than Indiana

Traditionally, Democrats vote early, Republicans late, according to my poli-sci professors. That may have changed in the past 20 years, but it was a long-standing trend going back decades when the information was presented to us.

(more adding to your point that anything, uno.)
 
St. Clown said:
Traditionally, Democrats vote early, Republicans late, according to my poli-sci professors. That may have changed in the past 20 years, but it was a long-standing trend going back decades when the information was presented to us.

(more adding to your point that anything, uno.)
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Yeah, 2 years ago, the early gap wasn't close to 2:1, and by election day the GOP had basically pulled even in the early voting. Knew the Dems were in trouble then, cause election day voters skew GOP.
 
Re: The States: At Least Michigan is Better Than Indiana

Deutsche Gopher Fan said:
Interesting. I was told it’d be close or maybe worse for me.
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You and I are in the prime zone for this tax cut. Single, high earner, no dependents. The people hurt the most by this are married, with dependents, and in high SALT states. There will be some weird dynamics for medium to very high earners in some states like Minnesota, New Jersey, California, New York, etc. These people might get hurt more by the SALT cap than helped by the lower rates. You might fall in that category depending on how much you pay in SAL taxes. Eventually if they make enough money there might be a crossover where they actually start to benefit from rate cuts more than the SALT cap hurts them. Not sure though.

I don't pay enough in SALT to get hurt by it yet. Your city and house value might end up screwing you in that sense.

unofan said:
So the standard deduction essentially doubled, but they dropped the personal exemptions, so it's not as much of a savings as you'd think (the standard deduction + personal exemption was about 10,000 combined in 2017, this year the standard deduction is 12,000). If you were borderline before, you'll probably be under the threshold to itemize this year.

I will most likely get the fun of taking standard deduction on the fed return and itemizing on my state return (they let us do that)
Click to expand...

Yeah, I'm in a good spot. Single, no dependents, high income, low local taxes (state is relatively <strike>high</strike> normal). I will benefit the most. Married couples with a few kids in blue states are going to take it in the pants.
 
Re: The States: At Least Michigan is Better Than Indiana

I’m in Edina and have high home value and high taxes. And I used to be in Minneapolis and had high property tax there too. I’m talking between 4500-5500 each year on property tax alone
 
Re: The States: At Least Michigan is Better Than Indiana

Deutsche Gopher Fan said:
I’m in Edina and have high home value and high taxes. And I used to be in Minneapolis and had high property tax there too. I’m talking between 4500-5500 each year on property tax alone
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Ouch, that's half the cap. I'm at about $2,600-$2,800 a year in GDO. A similar home in Woodbury is over $3,800.
 
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